The composition of the United States dime, a ten-cent coin, underwent a significant change in the mid-1960s. Prior to this period, dimes were composed of 90% silver and 10% copper. These are often referred to as “silver dimes” by collectors.
The removal of silver from circulating coinage was driven by several factors, including the rising cost of silver relative to the face value of the coins and a national coin shortage. The intrinsic value of the silver in the pre-1965 dimes began to exceed their monetary value, leading to hoarding and a reduction in the number of dimes available for commerce. This situation threatened to destabilize the nation’s monetary system.